An electric outboard motor for boats is a propulsion system designed to power boats and other watercraft using electric energy instead of traditional internal combustion engines. These motors are typically mounted on the transom of the boat and use an electric motor to drive a propeller, providing the necessary thrust to move the vessel through the water.
According to the new market research report “Global Electric Outboard Motor for Boats Market Report 2024-2030”, published by QYResearch, the global Electric Outboard Motor for Boats market size is projected to reach USD 0.24 billion by 2030, at a CAGR of 8.3% during the forecast period.
Figure. Global Electric Outboard Motor for Boats Market Size (US$ Million), 2019-2030
Above data is based on report from QYResearch: Global Electric Outboard Motor for Boats Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
Figure. Global Electric Outboard Motor for Boats Top 13 Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Above data is based on report from QYResearch: Global Electric Outboard Motor for Boats Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Electric Outboard Motor for Boats include Johnson Outdoors, Torqeedo, Brunswick Corporation, MotorGuide, AquaWatt, Yamaha, Haibo, Parsun, ePropulsion Technology, Elco Motor Yachts, etc. In 2023, the global top five players had a share approximately 61.0% in terms of revenue.
Market Drivers:
Environmental Concerns and Regulations: Increasing environmental awareness and stringent regulations aimed at reducing emissions drive the demand for electric outboard motors. These motors offer an eco-friendly alternative to traditional gasoline-powered engines, producing zero emissions and minimizing environmental impact.
Rising Fuel Costs: Fluctuating fuel prices and the desire to reduce operating costs incentivize boat owners to switch to electric propulsion systems. Electric outboard motors offer lower operational costs since electricity is often cheaper and more stable in price compared to gasoline or diesel fuel.
Restraint:
Limited Range and Charging Infrastructure: Range anxiety and the availability of charging infrastructure can be significant barriers to the widespread adoption of electric outboard motors. Concerns about range limitations and the need for frequent recharging may deter some boat owners, especially those who require long-range capabilities or operate in remote areas with limited charging facilities.
Trends:
Integration of Hybrid Systems: Hybrid propulsion systems, combining electric motors with traditional internal combustion engines or generators, are gaining traction in the marine industry. Hybrid electric outboard motors offer versatility, allowing boat owners to switch between electric and conventional power sources based on their specific requirements and operating conditions.
Enhanced Performance and Power: Manufacturers are continually improving the performance and power output of electric outboard motors to compete with traditional combustion engines. Advancements in motor efficiency, torque, and propulsion technology enable electric motors to achieve higher speeds and better acceleration, expanding their suitability for various boating applications.
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